Babcock (NYSE:BW) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Babcock (NYSE:BW) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.24 and traded as high as $3.47. Babcock shares last traded at $3.14, with a volume of 4,044,636 shares trading hands.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Craig Hallum raised shares of Babcock from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Wall Street Zen downgraded shares of Babcock from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Babcock in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $3.00.

Babcock Price Performance

The company has a market cap of $317.45 million, a price-to-earnings ratio of -1.85 and a beta of 1.87. The company’s 50-day simple moving average is $2.15 and its 200-day simple moving average is $1.24.

Babcock (NYSE:BW) last announced its earnings results on Monday, August 11th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.02). The firm had revenue of $144.10 million for the quarter, compared to analyst estimates of $182.07 million.

Insider Activity

In other Babcock news, CFO Cameron M. Frymyer purchased 20,000 shares of Babcock stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $1.55 per share, with a total value of $31,000.00. Following the completion of the acquisition, the chief financial officer owned 153,805 shares of the company’s stock, valued at approximately $238,397.75. This trade represents a 14.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth M. Young acquired 20,000 shares of the company’s stock in a transaction on Monday, August 18th. The shares were acquired at an average price of $1.51 per share, for a total transaction of $30,200.00. Following the completion of the acquisition, the chief executive officer directly owned 261,745 shares in the company, valued at $395,234.95. The trade was a 8.27% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 59,347 shares of company stock valued at $99,803 over the last 90 days. Insiders own 3.90% of the company’s stock.

Institutional Trading of Babcock

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Gendell Jeffrey L raised its holdings in Babcock by 49.2% in the second quarter. Gendell Jeffrey L now owns 2,574,848 shares of the technology company’s stock valued at $2,477,000 after acquiring an additional 849,602 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of Babcock by 13.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,985,590 shares of the technology company’s stock worth $1,333,000 after purchasing an additional 237,797 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Babcock by 93.0% in the 2nd quarter. Marshall Wace LLP now owns 395,945 shares of the technology company’s stock valued at $380,000 after purchasing an additional 190,814 shares in the last quarter. Bank of America Corp DE lifted its position in shares of Babcock by 62.8% during the fourth quarter. Bank of America Corp DE now owns 319,495 shares of the technology company’s stock worth $524,000 after purchasing an additional 123,194 shares during the last quarter. Finally, Equitec Proprietary Markets LLC grew its stake in Babcock by 28.3% in the first quarter. Equitec Proprietary Markets LLC now owns 327,365 shares of the technology company’s stock worth $220,000 after purchasing an additional 72,265 shares in the last quarter. Institutional investors own 83.17% of the company’s stock.

About Babcock

Babcock & Wilcox Enterprises, Inc engages in the provision of fossil and renewable power generation and environmental equipment. It operates through the following segments: B&W Renewable, B&W Environmental, and B&W Thermal. The B&W Renewable segment supports a circular economy, diverting waste from landfills to use for power generation and replacing fossil fuels, while recovering metals and reducing emissions.